negative circumstances resulting in a consistent decline in the Stock Exchange of Thailand Index (SETI) to finally hit the base at 2. SECURITIES BUSINESS LH Financial Group Public Company Limited Management

volatile market again in 3Q19 caused by intensifying trade war between US and China that Trump threatened to impose a fresh 10% import tariff on the remaining value of US$300BN on Chinese goods resulting in

resulting in higher completed online transactions. Newly opened Index Living Mall store in Chanthaburi On 2 August 2019, the Company has successfully opened a new Index Living Mall store in Chanthaburi as the

benefits derived from compliance with such rules or conditions; (2) the applicant is subject to restrictions under other laws resulting in its inability to comply with the rules or conditions to be exempted

E_1 Legal_FA_2015_12_29-c A CCoorrppLL44..11hhiigg A Executive Summary Management Discussion and Analysis For the Quarter Ended June 30, 2017 The global economy in the second quarter of 2017 maintained its growth momentum. Similarly, Thailand’s major economic indicators continued to exhibit growth, as evidenced by brighter exports, government spending and private spending on certain items of durable goods. The Thai economy hence showed ongoing improvement from the first quarter. Nonetheless, the...

E_1 Legal_FA_2015_12_29-c A FFeeCCoorrppLL44..11hhiigg A Executive Summary Management Discussion and Analysis For the Quarter Ended September 30, 2017 The Thai economy maintained steady growth in the third quarter of 2017, buoyed largely by tourism and exports. Nonetheless, the economic recovery was not broad-based, as evidenced by sluggish private consumption. While certain businesses were still fragile, others remained mired in uncertainty in terms of new modes of competition, a broader market...

E_1 Legal_FA_2015_12_29-c A brWCorpL.1hig A Executive Summary Management Discussion and Analysis For the Quarter Ending June 30, 2019 The Thai economy faced increased headwinds in the second quarter of 2019. Exports, tourism and private investment – among major economic activities – were hampered by the worse-than-expected global economic slowdown. Meanwhile, consumers’ purchasing power weakened amid high household debt, whereas public investment and the government’s budget disbursement were aff...

continuously decreasing of economic status and consumption product resulting the total revenue and net profit of the Company is decreased. In 2017, the Company has total revenue of THB 294 Million decreasing

E_1 Legal_FA_2015_12_29-c A HibrWCorpL.1hig A Executive Summary Management Discussion and Analysis For the Quarter Ending September 30, 2018 The Thai economy in the third quarter of 2018 grew at a decelerating rate due to slowdown in external sector and manufacturing production at home. Meanwhile, private consumption which continued to expand was derived mainly from increased expenditures on automobiles. Nonetheless, the business sector remained challenged by new modes of competition, the broade...

and also use it as working capital; (7.2) The request for the License return also reduces the risk of capital structure management; resulting in generating cash flow for the Company and supporting the